What Constitutes A Cognitive Enterprise?
The upsurge of new technologies has the power to change the business landscape forever. A cognitive enterprise is one that operates at the height of innovation, investing in data and technologies that empower knowledge workers to perform at higher, more efficient levels. Neither artificial intelligence nor machine learning alone makes an organization cognitive. Instead, a cognitive enterprise combines technology, culture, and human experiences to excel in the modern world.
What is a Cognitive Enterprise?
To most, a cognitive enterprise means shifting to artificial intelligence or the application of cognitive technologies to enterprise-level business needs. To others, cognitive enterprise refers to organizations that have expanded to include artificial intelligence, machine learning, and robotics process automation. However, a cognitive enterprise is not simply the integration of new technologies and is instead the next iteration of the digital revolution that meets at the intersection of technology, culture, and experience.
A cognitive enterprise is one that operates at the height of innovation, investing in data and technologies that empower the organization to work smarter. It’s important to remember that no amount of innovation or implementation of new technologies will resonate if the enterprise does not first create a culture that embraces new opportunities to learn, adapt, and grow. The intelligence that is derived from technological innovations requires a culture that is not hesitant to deviate from traditional practices or norms.
What are the three components of a Cognitive Enterprise?
Cognitive enterprises draw upon three main components: a market-making business platform, intelligent workflows, and a corporate culture that isn’t afraid to deviate from traditional practices and norms in order to enhance human experiences.
Market-making business platforms
Choosing an effective market-making business platform is the most important component to get right as choosing a platform will define how your organization’s trajectory and growth narrative will play out in the future. These are a must as they reinforce your competitive position within an industry, shape a new role in an industry context, or open up cross-industry market opportunities.
Intelligent workflows
A workflow is a series of activities that are necessary to complete a task and an intelligent workflow is a workflow that is backed by technology to streamline efficiency. An intelligent workflow combines analytics, artificial intelligence, machine learning, and automation to help organizations perform diverse, obscure, or complex tasks more efficiently. By adding technologies like AI and automation, intelligent workflows increase the visibility, flexibility, agility, value and efficacy of these tasks.
Business benefits of intelligent workflows include:
- Increased productivity and competitiveness.
- Decreased operating costs and increased ROI.
- Faster deployments backed by machine learning.
- Reduced downtime and improved system operability.
- Decreased processing times and increased workflow speed.
- Stay agile by speeding up or reducing workflows when necessary.
Functional benefits of intelligent workflows include:
- Increased efficiencies in operations teams.
- AI enabled, data-driven marketing campaigns.
- Increased visibility and control in project management.
- Streamlines processes and more communication among sales teams.
Enterprise experience and humanity
Enterprise experience and humanity are considered the most important elements of a cognitive enterprise. As stated above, no amount of innovation or implementation of new technologies will resonate if the organization does not first create a culture that embraces new opportunities to learn, adapt, and grow. While a cognitive enterprise that is powered by artificial intelligence, machine learning, IoT, and data analytics has the potential to revolutionize the business landscape, the key to long-term success is being open, aware, and willing to embrace change.
When an enterprise strikes the perfect balance between human values and business objectives, they will ultimately be able to deliver more effective experiences. Improving the human experience takes more than just good intentions and instead starts from the top down. Leadership must elevate the human experience by simply becoming more human. Reimagining the enterprise to be more human starts with empathetic leadership and carries through sustainable solutions that tap into the innate human need to be connected.
What organizations should consider when making the shift towards the Cognitive Enterprise
As organizations big and small continue to make the shift towards becoming a cognitive enterprise, there are three main guidelines that must be considered. First, organizations must work to secure both the human and machine elements along intelligent workflows, data sources, their attendant applications, and the underlying infrastructure. Secondly, the organization must consider how the security of their chosen business platform will impact the longevity of their business. Lastly, the ecosystem of business platforms that has been chosen requires an open network approach to security.
Is cognitive enterprise the next iteration of the digital revolution?
In the era of digital disruption and transformation, technologies like artificial intelligence, cognitive automation, and robotics will be the catalyst for transforming organizations into cognitive enterprises. From enhancing customer experiences and interactions, to improving employee capabilities and performance, failing to adapt will mean falling behind. Accelerating the adoption of new technologies is a must to stand out among existing and emerging competitors.
Are you ready to make the shift towards a Cognitive Enterprise?
As customer demand soars and market trends shift, AI, machine learning, and big data have all become focal points among organizations that are scrambling to keep up. In an attempt to foster growth and ward off competitors, organizations are leveraging these technological innovations to enhance customer experiences and improve data-backed decision-making without compromising on quality. Will your organization adapt to embrace these technological innovations, or will you be left behind while others reap the benefits?
